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Post Info TOPIC: Accounting for stock introduced into new business
blueeyes


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Accounting for stock introduced into new business
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Hi All,

How do I account for stock being introduced into a business. £2440.00. The business is a sole trader. Am I right in thinking if it was a LTD company then it would be Directors Loan in/Capital introduced.

Thanks in advance



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Shamus


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provided that all purchase receipts are available treat as though purchased on the first day of trading.

Your assumption in relation to a limited company is correct (with the flip side being Dr Stock).

kind regards,

Shaun.

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Shaun

Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
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